<--Back to Wiki Home
Variance is a permission that allows a landowner to use their property in a way that is not currently allowed by the zoning laws. This permission is granted when there are specific reasons, such as a hardship to comply or minimal negative impact, that justify the exception.
For example, let's say that a property owner wants to build a two-story house in an area where only one-story houses are allowed by the zoning laws. If the property owner can show that there are unique circumstances that make it difficult to comply with the zoning laws, such as a small lot size or an unusual shape of the property, they may be granted a variance to build the two-story house.
"A Deep Dive for Real Estate Agents and Appraisers"
A few additional points to keep in mind regarding variances:
Specific requirements: The requirements for obtaining a variance may vary depending on the location and the local regulations. It's important to understand the specific requirements for obtaining a variance in the area you're working in.
Public notice and hearings: Obtaining a variance typically involves a public notice and a hearing where interested parties can voice their opinions.
Limitations and conditions: Variances are often granted with specific limitations and conditions, such as a time limit or a requirement to maintain certain standards. It's important to understand these limitations and conditions to ensure compliance and avoid potential legal issues.
Impact on property value: Variances can have a significant impact on the value of a property. As an agent, it's important to consider the potential impact of variances when evaluating a property's worth and advising clients.
By keeping these points in mind, you can better understand the role of variances in real estate and provide more informed advice to your clients.
"Wit & Whimsy with the Dumb Ox: Unlocking Knowledge with Rhyme:"
In the world of real estate, zoning laws abound,
Dictating how land can be used all around.
But sometimes there's a need to do something new,
And that's where a variance can come into view.
A variance is permission to use land in a way,
That's not allowed by zoning laws today.
It's granted when there's a reason that's fair,
Like undue hardship or minimal negative impact to bear.
For example, if a landowner wants to build high,
But the zoning laws say that's not allowed to try.
If they can show hardship, or impact that's small,
A variance may be granted to allow them to build tall.
So remember, dear student, a variance is a tool,
That can be granted to help a landowner rule.
When there's a need for land use that's unique,
A variance may be granted, but don't forget to seek.